A for sale sign is displayed outside a home in Toronto on Dec. 13, 2021. Reuters/Carlos Osorio
Sixty percent of Canadian mortgage holders renewing their property loans in 2025 or 2026 can expect an uptick in their monthly payments, a new report from the Bank of Canada says.
The majority of these borrowers have a five-year fixed-rate mortgage and are likely to be hit with a 15 to 20 percent increase in their monthly payments, a staff analytical note released this week by the central bank said.
